The Arab Coordination Group (ACG) and the African Development Bank Group have launched a new phase of their partnership aimed at scaling co-financing, mobilising private capital, and accelerating Africa’s economic transformation.

It was launched during a high-level consultation meeting convened at the AfDB’s headquarters in Abidjan, to establish a common platform to move from fragmented cooperation toward programmatic, large-scale co-investment aligned with the continent’s economic development priorities.

The meeting culminated in the adoption of a joint declaration on a strategic partnership between the ACG and the AfDB.

The declaration articulates a shared political vision, and translates it into operational direction, with clear priority areas for cooperation. It also establishes principles for institutional follow-up mechanisms to guide the next phase of Arab – African partnership.

As a practical next step, the declaration provides for the development of a financing and operational partnership framework, to be considered in 2026, which will define modalities for co-financing, pipeline coordination, mutual reliance, and regular joint programming. It also recognises the central role of the African Development Fund (ADF)—the AfDB Group’s concessional financing arm—in supporting low-income and fragile countries.

The declaration also calls for exploring closer collaboration between ACG institutions and ADF.

The consultation takes place at a time when Africa faces a widening development financing gap and an urgent need to mobilise capital at scale for energy access, climate resilience, food security, regional integration, and private-sector-led growth.

Source: Apanews